Sweden's Alimak Group Q3 revenue up 8% on higher order intake

Overview

• Sweden's vertical access solutions provider Q3 revenue rose 8% but missed analyst expectations

• Adjusted EBITA for Q3 increased but missed analyst expectations

• Order intake grew 16%, with 4% organic growth

Outlook

• Alimak Group did not provide specific guidance or outlook commentary for future periods in its press release

Result Drivers

• ORDER INTAKE - Co said growth was driven by organic increases in Industrial, Wind, Construction and Height Safety and Productivity Solutions divisions, offset by decline in Facade Access

• DIVISIONAL PERFORMANCE - Wind and Industrial divisions saw organic revenue growth, while Construction, Facade Access and Height Safety and Productivity Solutions divisions declined

• ACQUISITION IMPACT - Pro-Bel acquisition contributed to margin improvement

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the heavy machinery & vehicles peer group is "buy"

• Wall Street's median 12-month price target for Alimak Group AB (publ) is SEK159.50, about 29.5% above its October 22 closing price of SEK123.20

• The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 15 three months ago

Reuters Recommended Reads

• Oct 22 - Sweden's Sandvik Q3 revenue beats estimates on order growth

• Oct 22 - Sweden's Atlas Copco Q3 revenue slightly beats estimates, orders up 29%

• Oct 22 - Finland's Metso Q3 orders jump as mining demand lifts minerals segment

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)